- Cay Chavez Jr. is a new 17-year-old driver who purchased an '85 Cougar that he is restoring.
- He has an auto policy through Allstate to cover the costs of driving and maintaining the vehicle.
- Allstate agents provide educational materials and safety programs to help new teen drivers drive responsibly.
USG Corporation had a very successful year in 1999. Net sales increased 15% to $3.6 billion, operating profit rose 25% to $730 million, net earnings increased 27% to $421 million, and diluted earnings per share were $8.39 compared to $6.61 in 1998. To continue this growth, USG is investing in new state-of-the-art manufacturing facilities to increase production capacity and replace older, higher-cost plants. They are also focusing on innovation, expanding distribution through L&W Supply, strengthening customer relationships, and building their brands.
Parker is a global company that provides motion and control technologies. It is focused on creating technological breakthroughs, serving diversified markets around the world, and achieving new financial goals. Parker reported increased net sales, income from operations, net income, and cash flows from operating activities from 1999 to 2000. The company is positioned for consistent double-digit growth through expanding in core markets and new growth areas around the world. Parker is developing new technologies to advance industries like manufacturing, communication, and biomedical science.
The document is FedEx Corporation's 2000 Annual Report. It summarizes that in FY2000, FedEx saw a 9% increase in revenue to $18.3 billion and a 9% increase in net income to $688 million. Earnings per share grew 10% to $2.32. It also outlines FedEx's new strategic plan called "Project ARISE" to strengthen the FedEx brand and provide more integrated services and solutions for customers. The plan aims to drive revenue and profit growth through cross-selling services, expanding international business, leveraging e-commerce, and providing supply chain solutions.
AMR Corporation had a very successful 1998 financially. The company reported record net earnings of $1.3 billion, a 33.4% increase over 1997. AMR's strong performance was driven by robust demand for air travel and lower fuel prices, enabling the airline businesses to increase revenues without significant fare discounting. AMR also made progress across its key strategic objectives - growing its airline networks, improving customer service, and expanding The Sabre Group's technology solutions business.
The document is Southern Company's 2003 annual report. It summarizes the company's strong financial and operational performance in 2003, with earnings of $1.47 billion, or $2.03 per share. It discusses the company's focus on its core businesses of power generation and delivery in the Southeast US. The report also announces that Chairman and CEO Allen Franklin will retire in July 2004, and that David Ratcliffe will succeed him as president in April and CEO in July. Ratcliffe expresses confidence in Southern Company's strategy and people to continue its record of success.
Satellite TV dishes on tens of millions of homes and seamless global telephone service are some developing markets driving a $70 billion satellite and wireless industry. Hughes is uniquely positioned to take advantage of opportunities in this industry due to its leadership in satellite and wireless systems, proven record of innovation, strong finances, and highly skilled workforce.
This annual report summarizes the financial highlights and performance of Cooper Cameron Corporation for the years 1997, 1996 and 1995. Some key points:
- Revenues increased over 30% from 1996 to 1997, reaching $1.81 billion, driven by acquisitions, pricing improvements and strong sales.
- Earnings before interest, taxes, depreciation and amortization exceeded the target of 15% of revenues, reaching 16.3%.
- Net income improved to $140.58 million in 1997 compared to a net loss in 1996.
- The CEO outlines plans to continue improving productivity and manufacturing efficiency to meet increased financial targets for 1998.
P&G is celebrating its 165th year of providing trusted brands to consumers around the world. In 2002, P&G marketed nearly 300 brands in over 160 countries. Key financial highlights included a 3% increase in net sales to $40.2 billion and a 49% increase in net earnings to $4.352 billion. Core earnings per share grew 10% as the company delivered broad sales growth across all business units and regions.
USG Corporation had a very successful year in 1999. Net sales increased 15% to $3.6 billion, operating profit rose 25% to $730 million, net earnings increased 27% to $421 million, and diluted earnings per share were $8.39 compared to $6.61 in 1998. To continue this growth, USG is investing in new state-of-the-art manufacturing facilities to increase production capacity and replace older, higher-cost plants. They are also focusing on innovation, expanding distribution through L&W Supply, strengthening customer relationships, and building their brands.
Parker is a global company that provides motion and control technologies. It is focused on creating technological breakthroughs, serving diversified markets around the world, and achieving new financial goals. Parker reported increased net sales, income from operations, net income, and cash flows from operating activities from 1999 to 2000. The company is positioned for consistent double-digit growth through expanding in core markets and new growth areas around the world. Parker is developing new technologies to advance industries like manufacturing, communication, and biomedical science.
The document is FedEx Corporation's 2000 Annual Report. It summarizes that in FY2000, FedEx saw a 9% increase in revenue to $18.3 billion and a 9% increase in net income to $688 million. Earnings per share grew 10% to $2.32. It also outlines FedEx's new strategic plan called "Project ARISE" to strengthen the FedEx brand and provide more integrated services and solutions for customers. The plan aims to drive revenue and profit growth through cross-selling services, expanding international business, leveraging e-commerce, and providing supply chain solutions.
AMR Corporation had a very successful 1998 financially. The company reported record net earnings of $1.3 billion, a 33.4% increase over 1997. AMR's strong performance was driven by robust demand for air travel and lower fuel prices, enabling the airline businesses to increase revenues without significant fare discounting. AMR also made progress across its key strategic objectives - growing its airline networks, improving customer service, and expanding The Sabre Group's technology solutions business.
The document is Southern Company's 2003 annual report. It summarizes the company's strong financial and operational performance in 2003, with earnings of $1.47 billion, or $2.03 per share. It discusses the company's focus on its core businesses of power generation and delivery in the Southeast US. The report also announces that Chairman and CEO Allen Franklin will retire in July 2004, and that David Ratcliffe will succeed him as president in April and CEO in July. Ratcliffe expresses confidence in Southern Company's strategy and people to continue its record of success.
Satellite TV dishes on tens of millions of homes and seamless global telephone service are some developing markets driving a $70 billion satellite and wireless industry. Hughes is uniquely positioned to take advantage of opportunities in this industry due to its leadership in satellite and wireless systems, proven record of innovation, strong finances, and highly skilled workforce.
This annual report summarizes the financial highlights and performance of Cooper Cameron Corporation for the years 1997, 1996 and 1995. Some key points:
- Revenues increased over 30% from 1996 to 1997, reaching $1.81 billion, driven by acquisitions, pricing improvements and strong sales.
- Earnings before interest, taxes, depreciation and amortization exceeded the target of 15% of revenues, reaching 16.3%.
- Net income improved to $140.58 million in 1997 compared to a net loss in 1996.
- The CEO outlines plans to continue improving productivity and manufacturing efficiency to meet increased financial targets for 1998.
P&G is celebrating its 165th year of providing trusted brands to consumers around the world. In 2002, P&G marketed nearly 300 brands in over 160 countries. Key financial highlights included a 3% increase in net sales to $40.2 billion and a 49% increase in net earnings to $4.352 billion. Core earnings per share grew 10% as the company delivered broad sales growth across all business units and regions.
This document is the 1998 annual report of USG Corporation. It provides an overview of the company's strategy, results, and outlook. The key points are:
- USG's strategy focuses on investing in its core gypsum, ceilings, and distribution businesses to drive long-term growth. This includes new products, capacity expansion, and cost reductions.
- This strategy has led to record financial performance in 1998, with net sales of $3.1 billion (up 9%) and net earnings of $332 million (up 124%).
- Domestic construction markets remain strong, particularly in residential repair/remodeling. Nonresidential construction is also growing.
- While some international markets face challenges
This document is Capital One's 1996 Annual Report. It summarizes that in 1996, Capital One achieved record financial results including net income increasing 23% to $155.3 million and managed loans increasing 23% to $12.8 billion. Capital One's success is driven by its proprietary information-based strategy which allows it to customize products, manage risk conservatively, and continuously innovate. The company added nearly 2,000 employees in 1996 and remains focused on testing new products.
This annual report summarizes Caterpillar's performance in 2002, a challenging year with declining markets and a stalled global economy. Despite weak industry conditions, Caterpillar achieved strong profits through cost cutting measures. The report highlights how Caterpillar has diversified its business beyond construction machinery through expanded offerings in engine, financing, and logistics services to make the company less vulnerable to economic cycles. It expresses confidence that Caterpillar is well-positioned for future growth when economies rebound given its focus on technology, quality products, and global dealer network.
Parker is the world's leading manufacturer of motion and control technologies, providing precise engineered solutions across commercial, industrial, and aerospace markets. For fiscal year 1999, Parker reported record sales of $4.96 billion, income from operations of $538.7 million, and net income of $310.5 million, despite a softening in industrial demand. Parker is strategically diversified across industries and geographies, with no single customer accounting for more than 4% of sales, positioning it for continued global growth.
This annual report provides an overview of Erie Indemnity Company's financial performance and operations in 2006. Some key points:
- Net income decreased 11.7% to $204.0 million while net income per share fell 6.3% to $3.13. Management fee revenue increased slightly to $942.8 million.
- The company focused on balancing competitiveness with expense control, holding down non-commission expenses which rose 9.2% for the year.
- The Property and Casualty Group earned an adjusted statutory combined ratio of 89.4% and reported statutory combined ratio of 93.5%, generating underwriting gains of $13.4 million.
C.H. Robinson achieved strong success in 2007 despite challenging market conditions. The company grew gross profits 14.9% to $1.2 billion through its diverse mix of transportation services and customer relationships. Its non-asset based model and over 7,300 employees enabled it to efficiently manage over 6.5 million shipments. Looking ahead, C.H. Robinson is well positioned for continued growth given industry trends, its financial strength with no debt and $455 million in cash, and opportunities to expand internationally and through acquisitions.
This document provides an annual report for Barnes & Noble for the 1998 fiscal year. It summarizes the company's financial performance including record sales of over $3 billion and net earnings of $92.4 million. It highlights the opening of 50 new stores, including flagship locations in Baltimore, Salt Lake City, and Calabasas. The report also discusses the company's continued focus on building community within its stores through events and author appearances while expanding its online business through barnesandnoble.com.
allstate Highlights & Chairman's Letter 2002finance7
The document provides an annual report from The Allstate Corporation for the year 2002. It summarizes the company's financial highlights for 2002, noting increases in revenues, total assets, and operating income compared to 2001. It also includes a message from the Chairman, Edward M. Liddy, who discusses Allstate's strategy, priorities, and accomplishments in 2002, including improved financial results, risk management actions, and business transformations to broaden offerings and customer base. He expresses confidence in Allstate's position and strategy for continued growth and profitability.
BB&T Corporation reported financial results for the first quarter of 2009. Net income available to common shareholders was $271 million, down 36.7% from the first quarter of 2008, with diluted earnings per share of $0.48. Total assets increased 5.1% from the end of 2008 to $143.4 billion. However, nonperforming assets more than tripled to $2.75 billion compared to the prior year. Provision for credit losses increased significantly to $676 million from $223 million in the previous year. Overall, BB&T's financial results declined compared to the first quarter of 2008 largely due to higher credit costs.
Motorola experienced a difficult year in 2001 with declining sales and losses. The company implemented a 5-point plan to rebuild value that included strengthening management, stabilizing finances, reducing costs, pursuing growth through innovation, and reevaluating strategies. While most sectors struggled, PCS improved market share and profitability and BCS bolstered its leadership in cable equipment through acquisitions. The company remains focused on innovation in communications solutions and returning to profitability.
Dole Food Company reported strong financial results in its 1999 Annual Report. Revenue exceeded $5 billion for the first time, up 14% from 1998. Net income was $49 million, though it would have been $68 million excluding special charges. Cash flow from operations remained strong at $308 million. The company focused on its core businesses of fresh fruits, vegetables and flowers, maintaining low costs, and investing in its people. It undertook various restructuring and cost-cutting measures following challenges like hurricanes and citrus freezes. Dole entered 2000 with renewed purpose to profitably grow its brands and enhance shareholder returns.
Ecolab is a leading global provider of cleaning, sanitizing, pest elimination, maintenance and repair products and services. It operates in over 40 countries directly and serves customers in over 100 countries total. Ecolab's common stock is publicly traded on the NYSE and Pacific Exchange. The document provides an overview of Ecolab's business descriptions, financial highlights for 2000-1999 including net sales, income from continuing operations, diluted income per share, and dividends declared per share. It also includes graphs showing trends in these financial metrics from 1996-2000.
- Time Warner reported financial results for Q1 2008 with total revenues of $11.4 billion, up 2% from Q1 2007, led by increases at Cable, Networks and Filmed Entertainment segments. Adjusted operating income declined 1% to $3.1 billion due to declines at AOL and Filmed Entertainment offset by growth at Cable, Networks and Publishing.
- CEO Jeff Bewkes reaffirmed the full-year business outlook and discussed progress on key initiatives like the planned structural separation of Time Warner Cable.
WESCO International is a leading distributor of electrical products and other maintenance, repair and operating supplies. In 1999, WESCO saw record sales of $3.4 billion and net income of $35.1 million. The company operates over 340 branches across North America and focuses on exceptional customer service, a wide selection of quality products, and reliable logistics to ensure on-time delivery.
The Progressive Corporation reported financial results for March 2005. Net premiums written increased 5% to $1.127 billion compared to March 2004. Net income decreased 11% to $135.2 million compared to the prior year. Earnings per share fell 3% to $0.67. The combined ratio was 84.8, an increase of 2 percentage points from the prior year. Policies in force grew 12% year-over-year for personal lines and 14% for commercial auto.
FDX Corp. Reports Second Quarter Earnings Dec 16, 1999 finance7
- FDX Corp. reported lower quarterly earnings per share compared to the previous year, due to higher fuel prices and lower domestic growth at FedEx. Revenue increased 9% to $4.6 billion while operating income decreased 10% to $305 million.
- FedEx revenue grew 7% to $3.7 billion for the quarter, but operating income fell 16% to $211 million due to higher fuel costs and lower domestic volume growth. RPS revenue rose 8% to $521 million with a 7% increase in operating income to $66 million.
- The company will realign FedEx sales efforts toward small and medium customers and adjust sales incentives to boost box volume growth. Capital expenditures were reduced by
FedEx Corp. Reports Second Quarter Earnings Dec 20, 2007finance7
FedEx reported lower second quarter earnings compared to the previous year due to higher fuel costs and a weak US economy. Revenue increased 6% to $9.45 billion driven by international growth, while net income declined 6% to $479 million. FedEx expects full year earnings between $6.40-$6.70 per share and reduced its capital spending forecast to $3.1 billion. International package revenues grew 13% and FedEx Ground volume increased 8% despite challenges from fuel prices and the economy.
allstate Highlights & Chairman's Letter 1999finance7
Allstate reported financial results for 1999 with revenues of $26.96 billion, up 4.2% from 1998. However, operating income fell 19.1% to $2.08 billion and net income dropped 17.4% to $2.72 billion. Total assets increased 11.9% to $98.12 billion while shareholders' equity declined 3.7% to $16.60 billion. Per share, operating income fell 15.9% to $2.59 and net income declined 14.2% to $3.38. Allstate outlined strategic initiatives to expand its business scope through new distribution channels like the internet and phone, as well as acquisitions of other insurance businesses. The company committed
View Summary FedEx Corp. Net Income Soars 41% in Third Quarterfinance7
FedEx reported a 41% increase in net income for the third quarter of fiscal year 2004 compared to the same period the previous year. Operating income for FedEx Express improved 68% due to lower costs from business realignment programs and increased international revenue. FedEx expects earnings per share for the fourth quarter of fiscal year 2004 to be between $1.15 to $1.25, excluding realignment costs, compared to $0.92 the previous year. For the full fiscal year 2004, earnings per share are expected to be between $3.35 to $3.45, also excluding realignment costs.
- Ingram Micro is an IT distribution company that has consistently grown its annual sales and net income over the past decade, reaching record highs of $35 billion in sales and $276 million in net income in 2007.
- The company has a history of being "first" in the industry by entering new markets like Asia-Pacific and developing new business models and services.
- In 2007, Ingram Micro saw strong growth across all regions, especially Asia-Pacific, and made strategic acquisitions to expand into new product categories and services.
FDX Corporation was formed through the merger of FedEx and Caliber System Inc. in 1998. This created a $16 billion distribution and logistics company offering unprecedented shipping and logistics services. FDX aims to provide comprehensive distribution solutions to customers through its portfolio of express, ground, freight, and logistics services. The report discusses how FDX will leverage the strengths of each company while operating their networks independently to maintain optimal service quality. It outlines growth strategies around collaborative sales, global marketing, and information systems to drive revenue and profitability.
This document is the 1998 annual report of USG Corporation. It provides an overview of the company's strategy, results, and outlook. The key points are:
- USG's strategy focuses on investing in its core gypsum, ceilings, and distribution businesses to drive long-term growth. This includes new products, capacity expansion, and cost reductions.
- This strategy has led to record financial performance in 1998, with net sales of $3.1 billion (up 9%) and net earnings of $332 million (up 124%).
- Domestic construction markets remain strong, particularly in residential repair/remodeling. Nonresidential construction is also growing.
- While some international markets face challenges
This document is Capital One's 1996 Annual Report. It summarizes that in 1996, Capital One achieved record financial results including net income increasing 23% to $155.3 million and managed loans increasing 23% to $12.8 billion. Capital One's success is driven by its proprietary information-based strategy which allows it to customize products, manage risk conservatively, and continuously innovate. The company added nearly 2,000 employees in 1996 and remains focused on testing new products.
This annual report summarizes Caterpillar's performance in 2002, a challenging year with declining markets and a stalled global economy. Despite weak industry conditions, Caterpillar achieved strong profits through cost cutting measures. The report highlights how Caterpillar has diversified its business beyond construction machinery through expanded offerings in engine, financing, and logistics services to make the company less vulnerable to economic cycles. It expresses confidence that Caterpillar is well-positioned for future growth when economies rebound given its focus on technology, quality products, and global dealer network.
Parker is the world's leading manufacturer of motion and control technologies, providing precise engineered solutions across commercial, industrial, and aerospace markets. For fiscal year 1999, Parker reported record sales of $4.96 billion, income from operations of $538.7 million, and net income of $310.5 million, despite a softening in industrial demand. Parker is strategically diversified across industries and geographies, with no single customer accounting for more than 4% of sales, positioning it for continued global growth.
This annual report provides an overview of Erie Indemnity Company's financial performance and operations in 2006. Some key points:
- Net income decreased 11.7% to $204.0 million while net income per share fell 6.3% to $3.13. Management fee revenue increased slightly to $942.8 million.
- The company focused on balancing competitiveness with expense control, holding down non-commission expenses which rose 9.2% for the year.
- The Property and Casualty Group earned an adjusted statutory combined ratio of 89.4% and reported statutory combined ratio of 93.5%, generating underwriting gains of $13.4 million.
C.H. Robinson achieved strong success in 2007 despite challenging market conditions. The company grew gross profits 14.9% to $1.2 billion through its diverse mix of transportation services and customer relationships. Its non-asset based model and over 7,300 employees enabled it to efficiently manage over 6.5 million shipments. Looking ahead, C.H. Robinson is well positioned for continued growth given industry trends, its financial strength with no debt and $455 million in cash, and opportunities to expand internationally and through acquisitions.
This document provides an annual report for Barnes & Noble for the 1998 fiscal year. It summarizes the company's financial performance including record sales of over $3 billion and net earnings of $92.4 million. It highlights the opening of 50 new stores, including flagship locations in Baltimore, Salt Lake City, and Calabasas. The report also discusses the company's continued focus on building community within its stores through events and author appearances while expanding its online business through barnesandnoble.com.
allstate Highlights & Chairman's Letter 2002finance7
The document provides an annual report from The Allstate Corporation for the year 2002. It summarizes the company's financial highlights for 2002, noting increases in revenues, total assets, and operating income compared to 2001. It also includes a message from the Chairman, Edward M. Liddy, who discusses Allstate's strategy, priorities, and accomplishments in 2002, including improved financial results, risk management actions, and business transformations to broaden offerings and customer base. He expresses confidence in Allstate's position and strategy for continued growth and profitability.
BB&T Corporation reported financial results for the first quarter of 2009. Net income available to common shareholders was $271 million, down 36.7% from the first quarter of 2008, with diluted earnings per share of $0.48. Total assets increased 5.1% from the end of 2008 to $143.4 billion. However, nonperforming assets more than tripled to $2.75 billion compared to the prior year. Provision for credit losses increased significantly to $676 million from $223 million in the previous year. Overall, BB&T's financial results declined compared to the first quarter of 2008 largely due to higher credit costs.
Motorola experienced a difficult year in 2001 with declining sales and losses. The company implemented a 5-point plan to rebuild value that included strengthening management, stabilizing finances, reducing costs, pursuing growth through innovation, and reevaluating strategies. While most sectors struggled, PCS improved market share and profitability and BCS bolstered its leadership in cable equipment through acquisitions. The company remains focused on innovation in communications solutions and returning to profitability.
Dole Food Company reported strong financial results in its 1999 Annual Report. Revenue exceeded $5 billion for the first time, up 14% from 1998. Net income was $49 million, though it would have been $68 million excluding special charges. Cash flow from operations remained strong at $308 million. The company focused on its core businesses of fresh fruits, vegetables and flowers, maintaining low costs, and investing in its people. It undertook various restructuring and cost-cutting measures following challenges like hurricanes and citrus freezes. Dole entered 2000 with renewed purpose to profitably grow its brands and enhance shareholder returns.
Ecolab is a leading global provider of cleaning, sanitizing, pest elimination, maintenance and repair products and services. It operates in over 40 countries directly and serves customers in over 100 countries total. Ecolab's common stock is publicly traded on the NYSE and Pacific Exchange. The document provides an overview of Ecolab's business descriptions, financial highlights for 2000-1999 including net sales, income from continuing operations, diluted income per share, and dividends declared per share. It also includes graphs showing trends in these financial metrics from 1996-2000.
- Time Warner reported financial results for Q1 2008 with total revenues of $11.4 billion, up 2% from Q1 2007, led by increases at Cable, Networks and Filmed Entertainment segments. Adjusted operating income declined 1% to $3.1 billion due to declines at AOL and Filmed Entertainment offset by growth at Cable, Networks and Publishing.
- CEO Jeff Bewkes reaffirmed the full-year business outlook and discussed progress on key initiatives like the planned structural separation of Time Warner Cable.
WESCO International is a leading distributor of electrical products and other maintenance, repair and operating supplies. In 1999, WESCO saw record sales of $3.4 billion and net income of $35.1 million. The company operates over 340 branches across North America and focuses on exceptional customer service, a wide selection of quality products, and reliable logistics to ensure on-time delivery.
The Progressive Corporation reported financial results for March 2005. Net premiums written increased 5% to $1.127 billion compared to March 2004. Net income decreased 11% to $135.2 million compared to the prior year. Earnings per share fell 3% to $0.67. The combined ratio was 84.8, an increase of 2 percentage points from the prior year. Policies in force grew 12% year-over-year for personal lines and 14% for commercial auto.
FDX Corp. Reports Second Quarter Earnings Dec 16, 1999 finance7
- FDX Corp. reported lower quarterly earnings per share compared to the previous year, due to higher fuel prices and lower domestic growth at FedEx. Revenue increased 9% to $4.6 billion while operating income decreased 10% to $305 million.
- FedEx revenue grew 7% to $3.7 billion for the quarter, but operating income fell 16% to $211 million due to higher fuel costs and lower domestic volume growth. RPS revenue rose 8% to $521 million with a 7% increase in operating income to $66 million.
- The company will realign FedEx sales efforts toward small and medium customers and adjust sales incentives to boost box volume growth. Capital expenditures were reduced by
FedEx Corp. Reports Second Quarter Earnings Dec 20, 2007finance7
FedEx reported lower second quarter earnings compared to the previous year due to higher fuel costs and a weak US economy. Revenue increased 6% to $9.45 billion driven by international growth, while net income declined 6% to $479 million. FedEx expects full year earnings between $6.40-$6.70 per share and reduced its capital spending forecast to $3.1 billion. International package revenues grew 13% and FedEx Ground volume increased 8% despite challenges from fuel prices and the economy.
allstate Highlights & Chairman's Letter 1999finance7
Allstate reported financial results for 1999 with revenues of $26.96 billion, up 4.2% from 1998. However, operating income fell 19.1% to $2.08 billion and net income dropped 17.4% to $2.72 billion. Total assets increased 11.9% to $98.12 billion while shareholders' equity declined 3.7% to $16.60 billion. Per share, operating income fell 15.9% to $2.59 and net income declined 14.2% to $3.38. Allstate outlined strategic initiatives to expand its business scope through new distribution channels like the internet and phone, as well as acquisitions of other insurance businesses. The company committed
View Summary FedEx Corp. Net Income Soars 41% in Third Quarterfinance7
FedEx reported a 41% increase in net income for the third quarter of fiscal year 2004 compared to the same period the previous year. Operating income for FedEx Express improved 68% due to lower costs from business realignment programs and increased international revenue. FedEx expects earnings per share for the fourth quarter of fiscal year 2004 to be between $1.15 to $1.25, excluding realignment costs, compared to $0.92 the previous year. For the full fiscal year 2004, earnings per share are expected to be between $3.35 to $3.45, also excluding realignment costs.
- Ingram Micro is an IT distribution company that has consistently grown its annual sales and net income over the past decade, reaching record highs of $35 billion in sales and $276 million in net income in 2007.
- The company has a history of being "first" in the industry by entering new markets like Asia-Pacific and developing new business models and services.
- In 2007, Ingram Micro saw strong growth across all regions, especially Asia-Pacific, and made strategic acquisitions to expand into new product categories and services.
FDX Corporation was formed through the merger of FedEx and Caliber System Inc. in 1998. This created a $16 billion distribution and logistics company offering unprecedented shipping and logistics services. FDX aims to provide comprehensive distribution solutions to customers through its portfolio of express, ground, freight, and logistics services. The report discusses how FDX will leverage the strengths of each company while operating their networks independently to maintain optimal service quality. It outlines growth strategies around collaborative sales, global marketing, and information systems to drive revenue and profitability.
FedEx reported strong revenue and earnings growth for the first quarter of fiscal year 2007. Revenue increased 11% to $8.54 billion while net income rose 40% to $475 million. Operating margin improved to 9.2% compared to 7.6% in the prior year. FedEx Express saw the largest gains, with revenue up 10% and operating income increasing 64%. FedEx also announced two significant agreements, one extending its partnership with the US Postal Service and another outlining a tentative new contract with its pilots union. Management increased full-year earnings guidance but noted this includes one-time costs related to the pilot agreement if ratified.
FedEx reported higher first quarter earnings for fiscal year 2003 compared to the previous year. Net income increased 45% to $158 million, driven by an 8% increase in total revenue to $5.45 billion. Operating income grew 20% to $283 million. FedEx Ground continued its strong growth, with revenue up 33% and operating income increasing 68%. FedEx expects earnings per share of $0.75 to $0.85 in the second quarter and maintains its guidance of $2.77 per share for fiscal year 2003.
- Disney reported earnings for the quarter ended December 31, 1999, with revenues increasing 5% to $6.8 billion and operating income increasing 8% to $1.1 billion compared to the same period last year.
- Key drivers of increased revenues and operating income were strong performances from Who Wants to Be a Millionaire at ABC and record attendance at Walt Disney World, along with growth at ESPN and Disney's cable networks.
- Earnings per share increased 9% to $0.25, while net income rose 7% to $515 million, excluding Disney's retained interest in GO.com. Including GO.com, net income increased 1% to $324 million.
FedEx Corp. Reports Record Fourth Quarter Revenue and Earnings Jun 23, 2005 finance7
FedEx reported record fourth quarter revenue and earnings. Revenue increased 10% to $7.72 billion while net income grew 9% to $448 million. For the full year, revenue increased 19% to $29.4 billion and net income rose 73% to $1.45 billion. FedEx expects double-digit earnings growth in fiscal 2006 and earnings per share between $5.20 to $5.45.
FedEx Corp. Reports Fourth Quarter Earnings Jun 28, 2001 finance7
FedEx reported lower quarterly and annual earnings compared to the previous year. Quarterly revenue increased 6% to $5.12 billion but net income fell 54% to $113 million due to non-cash charges related to curtailing aircraft programs and reorganizing operations. Annual revenue grew 8% to $19.6 billion while net income declined 15% to $584 million. FedEx is implementing cost reductions and deferring capital spending to match reduced demand and improve future cash flow and profits.
The document is a proxy statement from Ingram Micro Inc. announcing its annual shareholder meeting on May 30, 2002. Shareholders will vote on two matters: (1) electing two Class I directors to three-year terms and (2) approving the Ingram Micro Inc. Executive Incentive Plan. The proxy statement provides details on these voting items, recommendations of the board of directors, and information for shareholders on how to vote.
The document provides information about Ingram Micro Inc.'s 2004 annual report and board of directors. It lists the board members and key corporate executives. It also includes financial highlights for 2004 and prior fiscal years, showing metrics such as net sales, income from operations, net income, total assets, and more. The annual report summary concludes with contact information for Ingram Micro's corporate offices and investor relations department.
The document is Ingram Micro's Code of Conduct. It outlines the company's commitment to legal and ethical conduct. It applies to all directors, officers, and employees. It discusses key policies like conflicts of interest, financial disclosures, gifts and gratuities. Employees are responsible for understanding and complying with the Code and reporting any issues. Violations can be reported anonymously through the Ingram Micro Hotline.
The document is FedEx Corporation's 2008 annual report. It discusses several topics:
1) FedEx's extensive global networks that connect people and businesses worldwide through air, ground, and freight shipping services.
2) Challenges in 2008 including high fuel prices and economic problems that prevented FedEx from meeting its earnings growth target, but the company remained profitable with a strong balance sheet.
3) Initiatives for 2009 including cost savings measures and renewed focus on sales to adjust to challenges while positioning the company for growth in 2010.
1) SYSCO reported strong sales and earnings growth in fiscal year 2001, with sales topping $20 billion for the first time.
2) Net earnings increased over 30% compared to the previous year, and return on shareholders' equity reached 31%.
3) Growth was driven by acquisitions, internal expansion, and a focus on customer relationships through initiatives like C.A.R.E.S.
Caterpillar's 2003 annual report outlines steps to building a great company. It discusses (1) inventing revolutionary products like tracked machines that became Caterpillar tractors; (2) choosing distribution partners wisely, like the network of over 200 independent and family-owned dealers worldwide; and (3) continually innovating and anticipating customer needs through new technologies like ACERT engines and e-business solutions for dealers.
Parker provides a shareholder's letter summarizing its business strategy and financial performance. It aims to grow through acquisitions that expand its product offerings and markets served, while maintaining double-digit growth and strong financial returns. Recent acquisitions have added $728 million in sales across industries like hydraulics, filtration, sealing and more. Parker believes its e-business initiatives and focus on customer service will help drive continued growth in revenue and profits.
The document is P&G's 2000 annual report which summarizes the company's financial and operating performance for the fiscal year.
1) Net sales grew 5% to $39.9 billion while net earnings fell 6% to $3.5 billion due to higher costs from organizational changes and new investments. Core earnings excluding restructuring costs grew 2% to a record $4.2 billion.
2) The CEO acknowledges the year's challenges but expresses confidence that by focusing on big brands, innovation, customer partnerships, and cost control, P&G can restore balanced growth in sales and profits.
3) Looking forward, the new organizational structure aims to leverage P&G's strengths in understanding consumer needs
This annual report summarizes Tech Data Corporation's fiscal year 1998. It saw record financial results, with net sales of $7.1 billion and net income of $89.5 million. Tech Data expanded internationally through the acquisition of Macrotron AG, making it a leader in the German market. It also grew its presence in Canada, Latin America, and Europe. The company increased its market share in the U.S. through new product offerings and innovative services like e-commerce and custom assembly. Tech Data attributed its success to its 5,000 employees worldwide and strategic partnerships with customers and vendors.
P&G's annual report discusses embracing the future through increased innovation and organization vitality. It summarizes the company's fiscal year results, noting earnings growth despite economic challenges. It outlines changes through the Organization 2005 initiative to accelerate growth by restructuring and improving innovation processes. The report emphasizes connecting technologies across business units and unleashing innovation to capitalize on a faster-paced global marketplace.
The document is the 1999 annual report for USG Corporation. It includes a table of contents, shareholders letter, financial review, shareholder information, and directors and officers. The financial highlights show that in 1999, net sales increased 15% to $3.6 billion, operating profit increased 25% to $730 million, and net earnings increased 27% to $421 million compared to 1998. Total assets grew 18% to $2.773 billion and stockholders' equity increased 67% to $867 million from the end of 1998 to the end of 1999.
Schering-Plough is a global pharmaceutical company focused on research and developing new therapies. In 2000, the company achieved 8% sales growth to $9.8 billion, led by its pharmaceutical business. Key therapeutic areas include allergy/respiratory, where sales grew 9% to $4.2 billion, driven by the antihistamine Claritin. The company is working to expand its allergy franchise with new products like Clarinex and strengthen its position in other areas like cancer and inflammation. Research and marketing efforts aim to continue delivering new treatments and driving international expansion.
1) Interphase Corporation reported financial results for Q1 2009 with revenues of $8.4 million, a 13% increase over Q1 2008. Revenues increased 61% sequentially from Q4 2008.
2) The company reported a net income of $707,000 or $0.11 per share for Q1 2009 compared to a net loss in Q1 2008.
3) Interphase's balance sheet remains strong with $26.4 million in working capital including $17.4 million in cash and marketable securities as of March 31, 2009.
This document is Gannett Co.'s 2005 annual report. It includes a financial summary showing increases in operating revenues and income from continuing operations compared to 2004. It also includes letters to shareholders from the chairman and CEO discussing leadership changes at Gannett in 2005, acquisitions made to expand the company's reach both within traditional media and new digital platforms, and efforts to measure audience reach across multiple platforms and expand online offerings.
This document provides a summary of Procter & Gamble's (P&G's) 2003 annual report. It discusses P&G's strong financial performance in fiscal year 2003, with 8% sales growth, 19% earnings growth, and market share gains across most major brands. It highlights the completion of P&G's restructuring program ahead of schedule. The summary also outlines P&G's strategic focus on growing existing core businesses, leading customers, large countries, and health/beauty categories. It emphasizes P&G's continued focus on productivity, cost reduction, cash management, and leveraging its strengths in branding, innovation, and global scale.
Staples had another year of strong growth and performance in fiscal year 1997. Key points:
- Sales exceeded $5 billion, a 31% increase over the previous year.
- 129 new stores were opened in North America.
- Major investments were made to support continued growth, including a new distribution center, national advertising campaign, and agreements surrounding the new Staples Center sports arena in Los Angeles.
- International operations, while not yet profitable, showed signs of improved performance and Staples remains committed to investing in their long-term growth.
- Overall, the company is well positioned for continued strong earnings growth in the future through ongoing store expansion and improvements across its business segments.
Computer Sciences Corporation (CSC) is an information technology services company that saw record revenues and earnings in fiscal year 1997. Some key events included winning $9 billion in new contracts, acquiring companies in the financial services and healthcare industries to expand its capabilities, and forming new vertical market organizations in financial services and healthcare. CSC also is well-positioned to help clients address the upcoming "Year 2000" computer issue. The company's chairman expressed optimism about CSC's prospects given its world-class offerings and talented employees.
Kaufman and Broad Home Corporation is one of America's largest homebuilders, having built over 225,000 homes since 1957. It focuses on first time and first move-up home buyers by offering customizable homes and financing options. In 1999, the company saw significant growth with revenues up 56.6% to $3.8 billion and earnings per share up 43.5% to $3.33. Kaufman and Broad operates in 6 US states and France, and repositioned some of its assets in 1999 to focus on its core homebuilding business and reduce debt.
The 2001 annual report discusses Group 1 Automotive's record financial and operational results for the year. Revenues increased 11% to over $3.9 billion while earnings per share grew 38% to $2.59. The company benefited from a diversified revenue mix, with 40% of revenues and 85% of profits coming from areas other than new vehicle sales. Going forward, Group 1 plans to pursue additional acquisitions to take advantage of opportunities in the automotive retailing industry.
Leggett & Platt's 2006 annual report outlines its goals for the future. It aims to achieve annual sales growth of 8-10% through 3-5% internal growth and 5% from acquisitions. It also targets an 11% EBIT margin by 2009, up from around 8.5%, by introducing new products, increasing sales, entering new markets, and improving efficiency. To reach these goals, Leggett & Platt will reinvigorate product development, establish a council of senior researchers, and develop new market opportunities through ideas generation and acquisitions to devote more cash flow to growth.
Leggett & Platt's 2006 annual report outlines its goals for the future. It aims to achieve annual sales growth of 8-10% through 3-5% internal growth and 5% from acquisitions. It also targets an 11% EBIT margin by 2009, up from around 8.5%, by introducing new products, increasing sales, entering new markets, and improving efficiency. To reach these goals, Leggett & Platt will reinvigorate product development, establish a council of senior researchers, and develop new market opportunities through innovation and entering new industries.
This annual report summary provides an overview of Leggett & Platt's financial performance in 2006:
1) Leggett & Platt achieved record sales and earnings in 2006. Sales increased 4% to $5.5 billion while earnings per share grew 23.8% to $1.61. Acquisitions contributed 5% to sales growth.
2) The company transitioned to a new CEO and COO in 2006 and completed a restructuring program aimed at improving margins. New growth and margin targets were established, including 8-10% annual sales growth and an 11% EBIT margin by 2009.
3) The company continues to generate strong cash flow and maintain a healthy balance sheet.
This annual report summary provides an overview of Leggett & Platt's financial performance in 2006:
1) Leggett & Platt achieved record sales and earnings in 2006, transitioned to new leadership, and completed a restructuring program. Sales increased 4% to $5.5 billion and earnings per share grew 23.8% to a record $1.61.
2) The company updated its growth targets, aiming for 8-10% annual sales growth and 11% EBIT margins by 2009. It also created new positions to increase business development and product innovation.
3) Looking ahead, Leggett & Platt expects its portfolio will be more profitable and 30% of sales will
This annual report summary provides an overview of Leggett & Platt's financial performance in 2006:
1) Leggett & Platt achieved record sales and earnings in 2006, transitioned to new leadership, and completed a restructuring program. Sales increased 4% to $5.5 billion and earnings per share increased to a record $1.61.
2) The company updated its growth targets, aiming for 8-10% annual sales growth and 11% EBIT margins by 2009. It also created new positions to increase business development and product innovation.
3) Looking ahead five years, Leggett expects its portfolio to include 30% new products, all businesses to be profitable, and to
This document summarizes the expected effects of the merger between Duke Energy and Cinergy. Shareholders and customers can expect value and reliable, affordable service. Local communities can anticipate support and enhancement. Employees will find a safe workplace that supports growth while sustaining the environment. The merger aims to increase value for investors while serving customers, communities, employees, and protecting the environment. Financial details of both companies from 2001-2005 are provided.
Similar to allstateFinancial Highlights, Shareholder Letter and Our Customer Family 1998 (20)
Return on total capital for the trailing 12 months ended June 28, 2008 was 20.8%. Net earnings for the 4 fiscal quarters spanning September 29, 2007 to June 28, 2008 totaled $1,104,607. The average total capital over the last 5 quarters, consisting of long-term debt, short-term debt, and equity, was $5,303,913. Return on capital was calculated by taking net earnings for the 12 month period and dividing by the average total capital.
This document is Sysco Corporation's 2000 annual report. It summarizes that fiscal 2000 was Sysco's 30th anniversary as a public company and marked record sales of $19.3 billion, up 11% from the previous fiscal year. Key drivers of growth were increased sales to customers served by Sysco marketing associates and continued growth of Sysco Brand sales. The report discusses Sysco's strategy of pursuing both acquisitions and internal expansion to continue driving future success through offering customers a breadth of products and superior service.
SYSCO is a food distribution company that supplies over 415,000 customers like restaurants, hospitals, and schools. In fiscal year 2002, SYSCO reported $23.35 billion in sales, a 7% increase from the previous year. Net earnings increased 14% to $679.78 million compared to fiscal year 2001. SYSCO has over 46,800 employees and operates from 142 locations across North America, helping their customers succeed by providing food and related products and services.
This annual report summarizes Sysco Corporation's financial performance for fiscal year 2003. Key highlights include:
- Sales increased 12% to $26.14 billion and net earnings increased 14% to $778.28 million.
- Diluted earnings per share increased 17% to $1.18.
- Return on average shareholders' equity was 36%.
- The company distributed products from 145 locations across North America to over 420,000 customer locations.
This document provides an annual report for Sysco Corporation for the fiscal year ending July 3, 2004. It includes financial highlights showing sales increased 12% to $29.3 billion and net earnings increased 17% to $907 million. It discusses challenges in the year from high product cost inflation of 6.3% and fuel costs. It outlines Sysco's focus on growing profitable customer businesses and improving customer relationships. It describes Sysco's national supply chain initiative including new regional distribution centers to enhance service and reduce costs. In closing, it expresses confidence in addressing economic uncertainty through its employees, products/services, and financial resources.
The passage discusses the importance of summarization in an age of information overload. It notes that with the massive amounts of data available online, being able to quickly understand the key points of lengthy documents, articles, or reports is crucial. The ability to produce clear, concise summaries helps people filter through large amounts of information and identify what is most important or relevant to them.
- SYSCO achieved record sales of $37.5 billion and record net earnings of $1.1 billion in fiscal year 2008 despite challenging economic conditions.
- The company's focus on supply chain efficiency and helping customers succeed through business reviews allowed it to contain costs while growing market share.
- SYSCO continues to invest in its business, people, facilities, fleet and technology to support long-term growth while exploring alternative energy sources.
This document summarizes reconciling items for 2001 by quarter and fiscal year. It reports reorganization costs of $19.1 million in Q2 2001, $11.7 million in Q3 2001, and $10.6 million in Q4 2001 for workforce reductions and facility consolidations worldwide. Special items include a $19.4 million write-off in Q3 2001 and $3.5 million impairment charge in Q4 2001. The total net reconciling items after tax was $42.1 million for fiscal year 2001.
This document shows the reconciliation between GAAP and non-GAAP operating income for different regions and worldwide for 2001. For each quarter and the full year, it provides the operating income under GAAP and non-GAAP measurements, as well as the reconciling items between the two. On a non-GAAP basis, operating income margins ranged from -1.25% to 1.23% by region for the full year.
This document provides a reconciliation of GAAP to non-GAAP financial metrics for 2001. For each quarter and full year, it shows gross sales, gross profit, operating expenses, operating income, net income, and diluted EPS under GAAP and non-GAAP after adjusting for reconciling items. The reconciling items reduced operating expenses and increased operating income, net income, and diluted EPS for the non-GAAP results compared to GAAP.
This document summarizes reconciling items for 2002 by quarter and fiscal year total. It includes reorganization costs, other major program costs, gains/losses on securities sales, and tax effects. Total net reorganization and other major program costs for the fiscal year were $116.6 million. A $280.9 million cumulative effect of a new accounting standard adoption was also recorded. The total net impact of reconciling items for the fiscal year was $350.2 million.
The document shows the reconciliation between GAAP and non-GAAP operating income for North America, Europe, Asia-Pacific, Latin America, and worldwide total for Q1 2002 through FY 2002. It provides the operating income under GAAP and non-GAAP measurements, as well as the reconciling items and non-GAAP operating income as a percentage of revenue for each region and time period.
This document provides a reconciliation of net income and earnings per share (EPS) between Generally Accepted Accounting Principles (GAAP) and non-GAAP measures for 4 quarters (Q1 2002 - Q4 2002) and the full fiscal year 2002 for an unnamed company. It shows that reconciling items reduced operating expenses and increased operating income, net income, and EPS under the non-GAAP measures compared to the GAAP measures.
This document summarizes reconciling items for 2003, including reorganization costs and other major program costs by quarter. Total reorganization costs for the year were $21.6 million. Other costs included in selling, general and administrative expenses were $23.3 million and costs of sales were $0.5 million. Pre-tax items totaled $45.4 million for the year. A favorable tax resolution of $70.5 million occurred in Q3 03. The total net effect was a $39.6 million benefit.
This document shows the operating income for different regions and worldwide both according to GAAP (Generally Accepted Accounting Principles) standards and on a non-GAAP basis for Q1 2003, Q2 2003, Q3 2003, Q4 2003 and FY 2003. It provides the figures in US dollars and also shows the operating income as a percentage of revenue. The non-GAAP operating income is higher due to reconciling items which are additional costs excluded from the non-GAAP calculation.
This document presents a bridge between GAAP and non-GAAP financial results for a company for 2003. It shows GAAP and non-GAAP results for net income, earnings per share, gross profit, operating expenses, operating income, and sales on a quarterly and full year basis. Reconciling items between GAAP and non-GAAP results include adjustments to operating expenses that increased non-GAAP operating income and net income compared to GAAP.
This document summarizes reconciling items for 2004 by quarter and fiscal year. It includes reorganization costs, other major program costs, foreign exchange gains and losses, and tax effects. Reorganization costs were credits in Q3 and Q4 2004 due to lower than expected facility consolidation costs. Foreign exchange gains stemmed from a currency contract for an acquisition. A favorable tax resolution in Q3 and Q4 2004 reversed previously accrued federal and state income taxes. The total net tax effect for the fiscal year was a credit of $58.8 million.
This document provides a reconciliation of GAAP to non-GAAP financial metrics for a company's net income and earnings per share for 2004. It shows the company's gross sales, gross profit, operating expenses, operating income, net income, and diluted EPS for each quarter of 2004 and the full year under both GAAP and non-GAAP measures, with reconciling items that adjust between the two methods.
The document summarizes reconciling items for quarterly and full year 2005. It reports costs related to reorganization efforts and integration of an acquisition. For the full year, these special items totaled $39.2 million pre-tax and $31.5 million after-tax. The costs were mainly for employee termination benefits, facility closures and consulting fees associated with outsourcing, optimization plans and integrating a company called Tech Pacific in Asia.
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Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
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Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
Enhancing Asset Quality: Strategies for Financial Institutions
allstateFinancial Highlights, Shareholder Letter and Our Customer Family 1998
1. Financial Highlights
$ in millions except per share data
1998 1997 % change
Revenues $25,879 $24,949 3.7
Operating income 2,573 2,429 5.9
Net income 3,294 3,105 6.1
Total assets 87,691 80,918 8.4
Shareholders’ equity 17,240 15,610 10.4
Per Common Share*
Operating income 3.08 2.78 10.8
Net income 3.94 3.56 10.7
Dividends 0.54 0.48 12.5
Shareholders’ equity 21.00 18.28 14.9
Market value–closing 38 1⁄2 45 1⁄4
–high 52 3⁄8 473⁄16
–low 361⁄16 28 1⁄8
*Per common share data have been restated for the effects of the 2-for-1 stock split paid on July 1, 1998.
Net Income Net Income per Total Assets
Diluted Common Share
$ in millions $ in billions
484 1,904 2,075 3,105 3,294 0.54 2.12 2.31 3.56 3.94 61.0 70.0 74.5 80.9 87.7
94 95 96 97 98 94 95 96 97 98 94 95 96 97 98
1
2. To Our Shareholders
T his is my first letter to shareholders as
chairman, president and chief executive
officer of Allstate. I welcome the opportunity
to lead 53,000 of the finest employees and
agents in America, whose combined efforts led
to another record year for the company.
1998 was a watershed year for another reason,
too: Jerry Choate, my predecessor and good
friend, announced his retirement after a stellar
37-year career at Allstate. Starting as an opera-
tions supervisor in California, Jerry rose through
the company and graced everything and everyone
he touched with a sense of purpose and integrity.
He took over as CEO in 1994 and under his
stewardship the company and its shareholders
thrived. From 1994 to 1998, during his leader-
ship, we increased operating income to $2.6 bil-
lion and improved earnings per share from $.30
to $3.08. The value of Allstate stock, although
Ed Liddy with
down in 1998, increased more than $21 billion,
Jerry Choate
from $11.88 to $38.50 per share.
(at right, below,
His emphasis on people resulted in numerous
and bottom
employee and diversity honors, including “best
photo), former
company to work for” awards from Fortune,
chairman and
Working Mother and Minority MBA magazines
chief executive
in 1998. He leaves a very strong legacy.
officer.
Outstanding Results
In 1998 we achieved outstanding bottom line
results in the face of an increasingly competitive
market. Operating income was $2.6 billion, or
$3.08 per share, a 10.8 percent increase on a
per-share basis, over the prior year. Net income,
which includes capital gains, was a record
$3.3 billion, or $3.94 per share. Our capital
position, which helps fund new growth, is in the
best condition in the company’s history.
Most importantly, we continued to sharpen the
strategies and accelerate the programs that will
enhance our sales and claims operations, bond
2
3. old and new customers ever more closely to us Strengthening the Customer Experience
First and foremost, we’re strengthening the
through unrivaled service, and position the cor-
Allstate customer experience. For two years we’ve
poration to generate strong growth in the future.
been focusing on the best ways to provide a
We are blessed with many unique assets. We
unique insurance experience to our customers.
have the most highly recognized brand name in
That, in turn, will drive higher satisfaction,
the business. We have a dedicated agency force
greater retention and improved growth rates. In
15,500 strong and a claims organization second
last year’s annual report letter, we described how
to none. We have a broad range of insurance
our intensive research has yielded highly valuable
products, making it easy for consumers to get the
information about what customers want and the
protection they need. We have a high-quality
type of service that appeals to them.
investment portfolio that consistently achieves
Since then our efforts have accelerated. In
excellent returns. And we have world-class
1998, we readied new programs to sell and ser-
research facilities and data management skills
vice the customer better, to provide faster and
that provide us with ongoing insights into what
more efficient claims service, to improve our
customers want.
reliability and prove our loyalty, and to price
The Need to Grow
our product more effectively.
Our challenge is to use our strengths to grow —
Many important initiatives in sales and claims
faster and more profitably. It won’t be easy, because
are being introduced in 1999, including:
the competitive environment is fierce. New as
s Expanded agency hours during the week and
well as traditional competitors are finding more
on Saturdays, to make it more convenient for
ways to deliver an increasing array of financial
customers to have access to account information
products and services. Strong industry operating
and talk with a licensed insurance professional.
and investment performance are creating substan-
We also plan to add several hundred agents to our
tial excess capital, intensifying the battle for the
sales force.
customer. Declining inflation and lower interest
s Seamless phone links from agents’ offices to
rates are adding more pressure on companies to
call centers where sales representatives can
find innovative ways to grow their business. All
answer customer questions 24 hours a day, seven
of this has led to intense price competition.
days a week. No other insurer can offer all these
In this competitive environment, our premium
benefits — licensed professionals to serve cus-
growth is not yet in line with our own or the mar-
tomers in person, weekend and longer weekday
ket’s expectations. As a result, our stock price fell
office hours and 24-hour coverage. Quite simply,
15 percent in 1998, after having soared 56 per-
we’re making it easier for customers to do busi-
cent the previous year.
ness with us.
Profitable top-line growth, the engine for
s New target marketing programs to make us
prosperity in the years ahead, is our No. 1 priority
more attractive and competitive with selected
in the company.
Allstate customers and prospects.
So how do we get there? We’re focusing on
s An easier renewal process and increased con-
improving our core business, and also looking at
tact with key customers to encourage new policy
new opportunities for growth as well. We plan to
purchases and improve retention rates.
grow Allstate faster, in more ways, more places
and with more products than ever before.
3
4. s New desktop technology and processes to this market, in order to reach customers who
handle questions and allow customers to give us prefer to do business this way.
claim information more easily. This is important We will also be expanding our life and savings
at a claim “moment of truth,” when customers business, starting with our own auto and home-
look to us for fast and empathetic help. owner customers. Only 1 in 11 Allstate auto and
homeowner customers currently are insured with
s Introduction of property claims coordinators
our life and savings products, so increasing cross-
as a single point of contact to help guide cus-
line sales is a major priority within the company.
tomers through the claims process.
We’re also developing new life and savings products.
s Customer contact in most cases within 24
To that end, we set up the Allstate Federal Savings
hours of notice of loss. In some states we’re test-
Bank in 1998 to begin providing new financial
ing a program to repair cars with minor damage
products, such as cash management and personal
within 72 hours. We’re working to reduce signifi-
trust services, to our customers. And in March
cantly the number of days it takes to inspect and
1999, we announced a joint venture with Putnam
settle auto claims.
Investments to sell variable annuity insurance
Overall, in both our sales and claims organi-
products. We’re piloting programs to train and
zations, we’ve been re-engineering the way we
license some of our life specialists and producers
operate to make it easier for the customer to do
as fully accredited financial advisers, and we’re
business with us. The goal is to raise service levels
looking at acquiring companies whose producers
to new heights, thereby attracting more new
provide financial advice. We’re also exploring the
customers and retaining more current ones. An
expanded use of new Internet channels to sell our
improvement of just 1 point in retention is worth
life and savings products, some of which are sold
$180 million a year in incremental revenue, so
on line now.
retention initiatives are a high priority.
Another sizable opportunity lies outside the
New Ways to Grow
U.S. We already market a full range of personal
The experience, expertise and scale of our agency
property and liability products in Canada. We
and claims organizations give us a huge competi-
have aggressive growth plans in Germany and
tive advantage in our core markets. But just as
Japan, where we currently have just auto insur-
important, our strengths also serve us well as we
ance, and also in South Korea, the Philippines
increase our focus on other channels of distribu-
and Indonesia, where we sell life coverage. We’ll
tion. We plan to build or buy capabilities that will
introduce auto insurance in Italy later this year.
make us a force beyond our traditional base.
We intend to build solid businesses in countries
One important channel is independent
we view as long-term attractive markets.
agents, who sell Allstate and other insurance
company products countrywide. We already have The Core of Allstate
extensive experience in this area. We’ve worked Our core is, and will continue to be, the Allstate
with rural independent agents for more than 25 brand and the Allstate agent. That’s where we’ll
years. More recently we’ve built our Deerbrook focus most of our attention and where most of
brand into a top player by selling non-standard our success in 1999 and the years ahead will
insurance through the independent agency channel. come. But for us to achieve sustainable, profitable
We plan to significantly increase our presence in growth year-in and year-out, we must utilize ad-
ditional channels, brands and products. We must
start reaching segments of the marketplace we don’t
4
5. currently reach. Ever-changing customer needs
for products and services demand it. The Allstate
Corporation will, over time, be multi-channel,
multi-brand, multi-product and multi-national.
Not all these initiatives will bear fruit right away,
but they plant the seeds for future growth.
In the pages that follow, we describe how our
product breadth and expertise can help serve cus-
tomers for a lifetime, building relationships that
generate trust, loyalty and greater business. And
we go on to describe the high standards set by our
employees, in the workplace as well as in the
communities they serve.
Allstate is a great company, a caring company,
with a strong record of safety innovations, product
and service excellence, community support, and
solid shareholder returns. I’m confident that with
our strengths, strategies and the resolve to provide
the highest level of service in the industry, we’re on
the right track for continued growth and prosperity.
Finally, I’d like to express my thanks to one
of our directors, Mary Alice Taylor, who stepped
down from the board last year following the
merger of Citibank and Travelers. Mary Alice
made valuable contributions to the board and
corporation during her tenure here, and we will
miss her. I’d like to welcome to the board two new
directors — Ronald T. LeMay, president and chief
operating officer of Sprint Corporation, and
H. John Riley Jr., chairman, president and chief
executive officer of Cooper Industries Inc. I’d
also like to acknowledge Edward W. Young, who
headed the international and specialty operations
and retired in 1998 after a 33-year career at
Allstate. Our board and senior management team
are crucial to Allstate’s future, and their out-
standing services were instrumental in guiding us
through our first five years as a public company.
Edward M. Liddy
Chairman, President and
Chief Executive Officer
5
6. Our Customer Family
Teen Driver
Fir
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Re
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Strengthening the customer experience…
at every stage of life.
Empty
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Bab
im
First
Building Stronger Relationships: At Allstate, satisfying customers
means more than just great claims service. It also means providing
advice, information and the right coverage for the changing needs
of our customer family at every stage of life. We’re building on
our world-class reputation for product excellence and superior
service to deliver greater reliability, to enhance loyalty and to
strengthen our best-in-class claims operation. The stories that
follow relate how, as our customer relationships grow, we can
build stronger ties and generate more business.
6
7. Strong customer from newborns to
relations, like retirees and new
strong family ties, drivers to empty
are built on de- nesters. The stories
pendability, loyalty that follow illustrate
and understanding. how great service
For more than 60 can lead to strong
years Allstate has relationships, and
served the insur- increased business
ance needs of over time.
millions of
customers—
The Allstate Customer Family Tree
Aaron and Angie Doug, Heidi and Mike and Robin Lynn and Anne
Cay Chavez Jr. Amy Bydash Robin Summers
Polly Colin Newbold Echols Miller
Auto Auto Auto Auto Home Auto Auto
Renter Home Home Life Home Home
Life Life Life Umbrella
Umbrella Boat Motor Club
7
8. ¢
Cay Chavez Jr.
Wichita, Kansas
Allstate Customer: 9 months
Policies: 1
Agent: Anthony Newry
The Allstate Customer Family Tree
Cay Chavez Jr.
Auto
New Drivers: Every year 1.5 million 16-year-olds slide
behind the wheel for the first time. Allstate can meet their
needs with our broad auto coverage and auto safety pro-
grams. Allstate strongly supports teen safety programs and
graduated licensing laws. Last year Allstate agents ordered
almost 1 million company safety brochures and videos to
distribute to their teenage customers. Safer, more experienced
drivers make the nation’s roadways safer for everyone.
8
9. Cay Chavez Jr., 17, agent, who talked to
with the ’85 Cougar them about the
he bought and responsibilities of
restored last year, safe driving. “We
when he began dri- got the teen driver
ving: “I love this brochure, and I
car but it costs signed the contract
money, so I’m that says I’ll call
working to help pay home for a ride if
for the upkeep and I’m ever out drink-
the insurance.” ing,” Cay says. “It
Before he got his makes a lot of
driver’s license, his sense.”
mom took him to
see their Allstate
10. Amy Bydash, 21, on any of it worked, so
campus at the my agent explained
University of Toledo: the various provi-
“When I got my car sions. He made it
and my own apart- real easy for me.”
ment, I went to my Amy has never had
Allstate agent and an accident or
he set me up with break-in, but she
the insurance I says her policies
needed. Even with give her a good
my limited income, feeling. “I know if
these policies are something hap-
very affordable. I pened with my car
had no idea how or apartment, I’m
covered all
around.”
11. ¢ Amy Bydash
Toledo, Ohio
Allstate Customer: 2 years
Policies: 2
Agent: Rich Brown
The Allstate Customer Family Tree
Cay Chavez Jr. Amy Bydash
Auto Auto
Renter
Going it Alone: Settling into a first household is a big
move. Proper liability protection and coverage for personal
belongings, even for young people just starting out on their
own, is important. And many mortgage companies require
proof of adequate coverage before they’ll approve a loan.
Whether it’s an apartment, condo or house, Allstate has the
protection and agent expertise to help first-time renters and
buyers feel right at home.
11
12. ¢
Aaron and Angie Polly
Paradise, California
Allstate Customers: 4 years
Policies: 3
Agent: Larry Spencer
The Allstate Customer Family Tree
Aaron and Angie
Cay Chavez Jr. Amy Bydash
Polly
Auto Auto Auto
Renter Home
Life
Wedding Vows: Young married couples pledge their devo-
tion “in sickness and in health,” but don’t always plan for
life’s unexpected problems. Allstate agents can help newly-
weds get a good start by providing financial advice and
proper coverage for their belongings, as well as adequate
life insurance. There’s peace of mind in knowing if some-
thing unexpected happened, they’re financially protected.
12
13. Aaron and Angie in the future.” He
Polly were far- enabled them to
sighted about their lower their rates,
financial responsi- too. “I had another
bilities: “We’re auto policy at the
committed to life- time, but my
time planning and Allstate agent
saving for the showed us how a
future,” says Aaron. multiple line dis-
“When we first got count was actually
married, we went to less expensive. We
my Allstate agent want the best for
and he guided us to each other and our
the best plan for future. Allstate is
our needs, now and helping us make
that happen.”
14. Heidi and Doug policy. And in the
Newbold with their meantime, if some-
baby: “When Colin thing happens to
was born our us, he’s protected.”
Allstate agent The Newbolds also
helped set up life rely on their agent
coverage for him. In for auto and home-
the future he can owner insurance.
convert it to his “It gives us peace
own universal life of mind to know
we have the right
coverage.”
15. ¢ Doug and Heidi Newbold
with 6-month-old Colin
Bedford, New Hampshire
Allstate Customers: 10 years
Policies: 4
Agent: Jim Parolin
The Allstate Customer Family Tree
Aaron and Angie Doug and Heidi
Cay Chavez Jr. Amy Bydash
Polly Newbold
Auto Auto Auto Auto
Renter Home Home
Life Life
Umbrella
Baby Makes Three: 4 million babies are born in the U.S.
every year. Newborns are a blessing, but they also create
huge financial responsibilities. Allstate agents can offer a
wide variety of life insurance policies to make sure the
family wage earners, as well as the infant, have adequate
coverage. It’s also a good time to review auto and home-
owner policies. That way the expanding family has the
broadest and best protection possible.
15
16. ¢
Robin D. Summers
Mount Vernon, New York
Allstate Customer: 3 years
Policies: 2
Agent: James R. Jubilee, Jr.
The Allstate Customer Family Tree
Aaron and Angie Doug and Heidi
Cay Chavez Jr. Amy Bydash Robin Summers
Polly Newbold
Auto Auto Auto Auto Home
Renter Home Home Life
Life Life
Umbrella
Moment of Truth: Life is unpredictable. When an accident
or tragedy occurs, good insurance coverage helps put
people back on their feet. At Allstate, we deliver on the
promise to help people recover. A strong brand name,
financial strength, almost 70 years of experience and a
claim organization second to none keep our customers
protected—and secure against the unexpected.
16
17. Robin Summers on a little boy. He
remembers her hus- pushed the boy to
band LeVerne: “He safety but was
was well-educated, killed in the acci-
well-respected, dent. Robin’s
well-loved, a good Allstate agent was
spirit.” He was also there to help. “He
a hero: In May 1998 was so supportive,
LeVerne, an actor, a good friend of the
was returning home family. And without
from his agent’s the life policy he
office when he saw sold us, I wouldn’t
a car bearing down have the financial
security I have
today.”
18. Robin and Mike builds cash value to
Echols, fishing near supplement their
their home: “With retirement nest egg,
our three kids grown and also saved
up, we have more them money on
time to relax. But their auto coverage.
we’re also working “His advice on our
for the day we can insurance needs
retire. These are and savings has
our prime savings been invaluable;
years.” To help out, he’s given us the
their Allstate agent most for our insur-
set up a life insur- ance money.”
ance policy that
19. ¢ Mike and Robin Echols
Birmingham, Alabama
Allstate Customers: 12 years
Policies: 4
Agent: Pete Russell
The Allstate Customer Family Tree
Aaron and Angie Doug and Heidi Mike and Robin
Cay Chavez Jr. Amy Bydash Robin Summers
Polly Newbold Echols
Auto Auto Auto Auto Home Auto
Renter Home Home Life Home
Life Life Life
Umbrella Boat
Empty Nest: From diapers to diplomas, kids cost a lot of
money. It’s hard to save money during the child rearing
years. But when kids grow up and leave home, parents can
start to focus on preparing for retirement. Allstate’s broad
array of products and expert agent counseling can provide
both protection and savings—and help feather the nest
for the future.
19
20. ¢
Lynn and Anne Miller
Evergreen, Colorado
Allstate Customers: 50 years
Policies: 4
Agent: Naoma Eisenbach
The Allstate Customer Family Tree
Aaron and Angie Doug and Heidi Mike and Robin Lynn and Anne
Cay Chavez Jr. Amy Bydash Robin Summers
Polly Newbold Echols Miller
Auto Auto Auto Auto Home Auto Auto
Renter Home Home Life Home Home
Life Life Life Umbrella
Umbrella Boat Motor Club
Golden Years: Nearly 10 million U.S. families enjoy
retirement. Allstate agents and life specialists can help by
assisting with life insurance and annuities, as well as estate
and financial planning. Working with Allstate to structure
a retirement plan that meets family members’ needs, and
the needs of their heirs, can make the retirement years still
more golden.
20
21. Lynn and
Anne Miller,
retired and
living in
Colorado, have
been Allstate
customers for 50 Allstate Motor Club.
years. “We bought Allstate’s always
our first auto policy been very good for
right after we got us, and we’ve never
married and moved had occasion to
to Chicago. Later think of switching.
we moved to Texas Our agent gives us
and added more all the personal
coverage. We attention we’ve
retired here in 1989 ever needed.”
and added home-
owners and the